Iraq Business News brings you the latest information on developments and opportunities in the oil and gas industry in Iraq.
By John Lee. Russia's Lukoil has signed an agreement with US investment company Carlyle for the sale of LUKOIL International GmbH, a wholly owned subsidiary that holds the its international assets. The agreement is non-exclusive and subject to regulatory approval, including permission from the US Department of the Treasury's Office of Foreign Assets Control (OFAC). Lukoil […]
By John Lee. Prime Minister Muhammad Shia Al-Sudani opened the Iraq Energy Conference 2026 in Baghdad on Wednesday, emphasising in his keynote speech: Target to export 40% of oil output as higher-value derivative products by 2030 Expansion of refining capacity and cooperation with the private sector to end fuel imports Utilisation of 74% of Iraq's […]
By John Lee. The publicly-traded UK company Kistos Holdings has held discussions in Iraq on matters related to the oil, gas, and energy sectors. The meeting took place between Minister of Oil Hayan Abdul Ghani al-Sawad and Peter Mann, Chief Executive Officer of Kistos. According to the company's website, Kistos was established in October 2020 as an energy […]
By John Lee. Steps to implement the strategic Haditha-Baniyas crude oil pipeline project have been reviewed. The discussions focused on completing technical and logistical studies required to advance the project, which is intended to diversify Iraq's export outlets and increase crude oil export capacity. According to the Ministry, the pipeline is designed to enhance flexibility […]
By John Lee. Genel Energy has issued a trading and operations update in advance of the company's full-year 2025 results, which are scheduled for release on 18 March 2026. Regarding the company's operations in Iraqi Kurdistan, it said: Production performance improved in the fourth quarter, supported by workovers and well interventions. Average production in unaffected […]
By John Lee. Long-term gas sales agreements have been signed to supply natural gas from the Chemchemal field to major industrial consumers in the Kurdistan Region of Iraq. The agreements were announced by Dana Gas PJSC and Crescent Petroleum, together with their partners in the Pearl Petroleum Consortium. They provide for the supply of up […]
By John Lee. How does the US control Iraq's oil revenues? Reuters has published an explainer, available via investing.com: Click here to view. (Sources: Reuters / Investing.com)
By John Lee. Iraq's Ministry of Oil has announced finalised oil export volumes for December. Total exports of crude oil (including condensates): 107,651,061 barrels. Exports from the oil fields in central and southern Iraq amounted to 100,420,048 barrels. Exports from the Kurdistan Region via the Turkish port of Ceyhan amounted to 5,997,527 barrels. Exports to […]
From Amwaj Media. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News. How Iraq's oil sector is emerging as battleground for Russia, US Upending dynamics in Iraq's energy sector, Baghdad has announced that it is nationalizing the West Qurna-2 oil field following the exit of […]
By John Lee. Discussions have taken place regarding the investment and development of the Hamrin oil field, focusing on technical, economic, and contractual aspects of the project. The meeting was held on Thursday, 22 January 2026, at the headquarters of North Oil Company (NOC), with the participation of a delegation from HKN of the United […]
By John Lee. Genel Energy has announced the appointment of Patrick Allman-Ward as an Independent Non-Executive Director and Chair of the Board, with effect from 9 February 2026. According to a statement from the company: "Patrick is a globally respected energy leader with over 40 years of international upstream experience. He served as CEO of […]
By John Lee. Shares in Gulf Keystone Petroleum (LSE: GKP) closed down more than 7 percent on Thursday after the company provided an operational and corporate update. The sell-off was primarily driven by the following factors: Lower Production Guidance: GKP expects average gross production to drop to between 37,000 and 41,000 barrels of oil per day […]
